Manitowoc Company Inc (NYSE:MTW) was the recipient of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 1,776,255 shares, a decrease of 76.0% from the November 15th total of 7,403,145 shares. Based on an average daily volume of 550,131 shares, the days-to-cover ratio is currently 3.2 days. Currently, 5.1% of the shares of the company are short sold.

In other Manitowoc news, Director Charles David Myers purchased 3,854 shares of Manitowoc stock in a transaction that occurred on Wednesday, November 29th. The stock was purchased at an average price of $39.12 per share, for a total transaction of $150,768.48. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 2.82% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Neuberger Berman Group LLC grew its stake in shares of Manitowoc by 5.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,332,981 shares of the industrial products company’s stock worth $20,997,000 after purchasing an additional 116,087 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Manitowoc during the 3rd quarter worth $308,000. Jane Street Group LLC grew its stake in shares of Manitowoc by 210.2% during the 3rd quarter. Jane Street Group LLC now owns 77,553 shares of the industrial products company’s stock worth $698,000 after purchasing an additional 52,554 shares during the period. Private Advisor Group LLC grew its stake in Manitowoc by 46.4% in the 3rd quarter. Private Advisor Group LLC now owns 31,722 shares of the industrial products company’s stock valued at $289,000 after acquiring an additional 10,050 shares during the last quarter. Finally, Invictus RG acquired a new stake in Manitowoc in the 3rd quarter valued at about $124,000.

Several brokerages have issued reports on MTW. Stifel Nicolaus boosted their price objective on shares of Manitowoc from $36.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Barclays began coverage on shares of Manitowoc in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $45.00 price objective on the stock. Robert W. Baird reissued a “buy” rating and issued a $47.00 price objective on shares of Manitowoc in a research note on Friday, November 24th. Royal Bank of Canada raised shares of Manitowoc from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $30.00 to $48.00 in a research note on Wednesday, November 1st. Finally, Jefferies Group reissued a “buy” rating and issued a $42.00 price objective on shares of Manitowoc in a research note on Friday, October 6th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $37.89.

Manitowoc (NYSE MTW) opened at $39.30 on Monday. The company has a current ratio of 1.76, a quick ratio of 0.67 and a debt-to-equity ratio of 0.44. Manitowoc has a 12 month low of $21.00 and a 12 month high of $42.12.

Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.44. Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. The business had revenue of $399.40 million for the quarter, compared to analysts’ expectations of $385.01 million. During the same period in the prior year, the company posted ($1.12) EPS. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. equities research analysts forecast that Manitowoc will post -0.19 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This news story was first reported by Watch List News and is the property of of Watch List News. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this news story can be read at https://www.watchlistnews.com/short-interest-in-manitowoc-company-inc-mtw-declines-by-76-0/1770633.html.

Manitowoc Company Profile

The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.

Receive News & Ratings for Manitowoc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc and related companies with MarketBeat.com's FREE daily email newsletter.